KUWAIT, Nov 19 (KUNA) -- His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah announced Tuesday that Kuwait would extend USD one billion in soft loans for the African countries over the next five years, reflecting "our keennes" that economic investment was key to genuine partnership between the African and Arab regions.
"I directed officials of the (Kuwait) Fund (for Aab Economic Development) to extend soft loans to African countries in the amount of USD one billion during the next five years, not to mention investments by a number of Kuwaiti corporations in various sectors," Sheikh Sabah said in his speech to the two-day Summit as he took over presidency of the summit conference.
Sheikh Sabah said partnership between the African and Arab countries was aimed at "achieving our aspirations of development and construction." Sheikh Sabah said the two regions "need to exert efforts to face the challenges facing our countries.
"The Summit affirms our belief in the importance in economic partnership that we aspire".
The theme of the summit, "Partners in Development and Investment," reflected "our keenness that economy and investment occupy the large part of our agenda. We need to plan our future on the basis of genuine partnership," affirmed His Highness Sheikh Sabah.
Highlighting Kuwait's contribution to development in Africa, His Highness Sheikh Sabah said Kuwaiti private sector companies play a leading role in helping achieve strategic partnership, all of which is "proof of our firm conviction of the importance of strategic partnership.
"We should also mention ... the philanthropic work of Kuwaiti charitable associations that expand their activities to include many African countries," he noted.
His Highness Sheikh Sabah announced that Kuwait would earmark an annual financial award of USD one million in the name of late Dr. Abdulrahman Al-Sumait, focusing on development research in Africa." The award will be supervised by Kuwait Foundation for the Advancement of Sciences (KFAS) Abdulrahman Al-Sumait, the foundder of Kuwait-based Direct Aid, and began charity operations in Africa in early 1980s.
His Highness the Amir expressed belief in the importance of partnership and investment in the African continent and the promising opportunities they represent. In this respect His Highness the Amir announced that Kuwait was determined to work in cooperation and coordination with the World Bank and other financial institutions to guarantee the investment of investing one billion dollars, during the coming years om African countries with focus on infrastructure as an added value for the economies of these countries.
His Highness the Amir noted that the proper utilization of "our natural resources" would contribute to sustainable development and economic integration, through making good use of skilled manpower to ultimately achieve food security despite unstable economic conditions around the globe.
His Highness Sheikh Sabah said food security could be achieved through collaboration of efforts by the African and Arab regions.
"The elements for providing food security are available in our geographic space and we should exploit them ideally to achieve the security we desire," he said, adding that the outcome of the meeting of Ministers of Agriculture in Riyadh, Saudi Arabia, last month would be the start of a process to achieve food security.
His Highness the Amir noted that activities of the 3rd Africa-Arab Summit began a month ago, during which cultural and economic activities were held forming a solid foundation for common cooperation.
He said the outcome of meetings of experts during these activities would greatly benefit the Arab and African countries with the objective of reaching strategic partnership and integration.
His Highness the Amir, meanwhile, announced support for the candidacy of the United Arab Emirates (UAE) to organize EXPO 2020.
"In view of the massive capabilities of the UAE, and its vast experience in economy and investment, we fully support its nomination for hosting this important event," asserted His Highness the Amir of Kuwait.
Turning to political matters, His Highness Sheikh Sabah noted the tragic situation in Syria, "where the machine of death is killing people of Syria, as casualties rise daily, and destruction of all aspects of life multiply.
"The appalling statistics and reports recieved from the specialized agencies confirm that the casualties in this tragedy have exceeded 100,000 of our brothrs in Syria, and displaced millions of people both internally and externally, thus placing huge burdens on neighboring countries and agencies concerned," he added.
His Highness Sheikh Sabah noted that Kuwait hosted last January a conference of donors for Syria which ensured pledges of USD 1.6 billion, and would host the 2nd donors conference next January at the behest of the UN Secretary General Ban Ki-moon.
His Highness the Amir of kuwait called on the UN Security Council (UNSC) to live up to its responsibilities to end bloodshed in Syria, appealing to all parties to the Geneva II conference to work "honestly and sincerely" in order to reach a political solution.
His Highness Sheikh Sabah, meanwhile, said stability in the region would not be achieved with Israel "continuous intransigence and refusal to implement the resolutions of the international legitimacy, and its insistance on expanding the building of settlements.
"We call upon the international community and in particular the Security Council and the Quartet to put pressure on israel, in order to induce it to impelement the resolutions of international legitimacy, to establish an independent viable Palestinian State in accordance with international resolutions and the Arab peace initiative," he said. (end) bs KUNA 191819 Nov 13NNNN